Bank of America has a variety of certificates of deposit (CD) that may appeal to customers who want a bank that has branches all over the country. Bank of America With options ranging from short to long-term investments, these Bank of America CD rates aim to fit various financial strategies, though it’s wise to compare with leading market rates for optimal growth.
The $1,000 minimum deposit to open a Fixed Term CD is reasonable, but there’s a trade-off: Bank of America’s CD yields aren’t as high as those of other banks.
- Update 5/11/2025: Rates have changed.
- Update 1/10/2025: Rates have changed.
- Update 10/26/2024: Rate changed, see new rates.
- Update 9/18/2024: Rate decreased slightly. See new rates below.
- Update 8/15/2024: Rate changed slightly.
- Update 2/17/2024: Rates updated.
- Update 9/26/2023: Their 7-month and 13-month CDs increased from 4.60% APY to 5.00% APY.
- Update 9/19/2023: Their rates remained the same.
- Update 9/4/2023: Small change to their Featured CD rates.
- Update 8/21/2023: No changes to Bank of America’s Featured CD rates.
READ MORE: NEW CUSTOMERS ARE GETTING $100 BONUSES FROM BANK OF AMERICA
Why Choose Bank of America?
You shouldn’t be choosing to open a CD account through Bank of America for the rates, as they just can’t compete with online banking providers. Opening a CD account with BofA only makes sense if you already bank with them – with a checking account, for example.
If you’d like to keep all accounts in one place to easily monitor them and find a certain CD term has a sufficient rate, then it may make sense for you.
READ MORE: SEE THE NATION’S BEST CD RATES HERE
Bank of America is one of the largest banking institutions in the United States. It has a long and distinguished history and has expanded to become one of the country’s most well known and respected banks.
They offer a range of products and services designed to meet the needs of a variety of different customers – from people with basic banking needs, to those looking for more customized solutions for their investments and retirement planning.
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Bank of America CD rates
There are two kinds of CD accounts that BofA offers: Featured CDs and Fixed Term CDs. Featured CDs have a higher APY, but they also have a higher minimum balance.
Fixed Term CDs have lower APYs, but they require less money to start.
Here’s a closer look at the Featured CDs that Bank of America has to offer:
| Account | Term | APY | Minimum deposit |
| Featured CD | 7 months | 3.93% | $1,000 |
| Featured CD | 10 months | 3.40% | $1,000 |
| Featured CD | 13 months | 2.72% | $1,000 |
| Featured CD | 25 months | 1.98% | $1,000 |
| Featured CD | 37 months | 0.11% | $1,000 |
Note: Annual percentage yields (APYs) shown are as of May 11, 2025 and may vary by region.
READ MORE: GET TOP BONUSES FROM CHASE, AXOS, AND BMO.
How do Bank of America CD rates compare to the nation’s best?
Bank of America has CDs with different terms so you can earn interest based on a suitable timeline. A CD from Bank of America can help your savings grow, but there are other banks that offer higher CD rates.
Notably, you’ll get better rates from online banking providers.
As you can see from the rates above, there are only a few options from Bank of America with rates worth looking at.
Quontic Bank’s Best CD Account Offers: Up To 4.25% (Available Nationwide) - Ready for a guaranteed return on your savings? Open a Quontic Bank CD in just 3 minutes and watch your money grow with top rates and FDIC protection. Key Takeaways Quontic Bank CD accounts provide competitive, often top-ranking APYs for… GET OFFER
Barclays Bank Best CD Account Offers (Available Nationwide) – June 2025 - Barclays' Certificates of Deposit (CDs) stand out for their high yields and flexibility, catering especially to savers with long-term goals. The absence of a minimum deposit requirement and the variety of term lengths, ranging from 12 months to five years,… GET OFFER
Earn Up To 3.50% APY: CIT Bank’s Best Certificate of Deposit Account Offers (Available Nationwide) - Unlock Your Savings Potential with CIT Bank's CD Accounts - Daily Compounding Interest, No Fees, FDIC Insured, & More. Update 12/1/2024: The offer remains highly competitive. Find their best rates below. Update 4/2/2024: The rates have decreased. See the new… GET OFFERBank of America’s other savings options
Bank of America is a big bank, so it has a lot of ways to help you save money, like IRAs for retirement and savings accounts for kids. But you can find better savings account rates elsewhere.
Online banking providers will offer much better rates for savings and money market accounts.
Here are some good rates to check out:
CIT Bank Savings Connect Earns 3.90% APY (Available Nationwide) - The CIT Bank Savings Connect account is a very competitive online savings account option. See the current rate details below. CIT Bank is a popular option for online banking, especially if you're seeking interest-bearing online checking and savings accounts. Not… GET OFFER
AmEx High Yield Savings Bonus: 3.70% Annual Percentage Yield (APY) – As Of 4/22/25 (Nationwide) - The American Express® High Yield Savings Account, Member FDIC, account offers a 3.70% Annual Percentage Yield (APY) rate - as of 4/22/25. Discover the AmEx High Yield Savings Bonus available nationwide today. The information related to American Express Savings has been collected by Moneysmylife… GET OFFER
Quontic Bank High Yield Savings Account Earns 3.85% APY (Nationwide) - Get a great rate for the Quontic Bank High Yield Savings Account. Quontic bank is a digital bank and is often ranked in the top 10 in this space. Details below. Compare their rates with the nation's best Savings rates… GET OFFERREAD MORE: YOU’LL WANT TO SEE THESE TOP SAVINGS RATES
Bottom Line
Like many of the nation’s biggest traditional banks, you won’t really get great rates on CD accounts. Big banks make up for this by providing a large network of physical locations to serve customers.
While rates aren’t great, banks such a Bank of America are very good about offering welcome bonuses for deposit account openings. This can include checking, savings and business accounts.
READ MORE: FIND THE LATEST BANK OF AMERICA PROMOTIONS HERE
READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.
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